Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

ON Semiconductor Corp., consolidated income statement

US$ in thousands

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	8,253,000)	8,326,200)	6,739,800)	5,255,000)	5,517,900)
Cost of revenue	(4,369,500)	(4,249,000)	(4,025,500)	(3,539,200)	(3,544,300)
Gross profit	3,883,500)	4,077,200)	2,714,300)	1,715,800)	1,973,600)
Research and development	(577,300)	(600,200)	(655,000)	(642,900)	(640,900)
Selling and marketing	(279,100)	(287,900)	(293,600)	(278,700)	(301,000)
General and administrative	(362,400)	(343,200)	(304,800)	(258,700)	(284,000)
Litigation settlement	—)	—)	—)	—)	(169,500)
Amortization of acquisition-related intangible assets	(51,100)	(81,200)	(99,000)	(120,300)	(115,200)
Restructuring, asset impairments and other charges, net	(74,900)	(17,900)	(71,400)	(65,200)	(28,700)
Goodwill and intangible asset impairment	—)	(386,800)	(2,900)	(1,300)	(1,600)
Operating expenses	(1,344,800)	(1,717,200)	(1,426,700)	(1,367,100)	(1,540,900)
Operating income	2,538,700)	2,360,000)	1,287,600)	348,700)	432,700)
Interest expense	(74,800)	(94,900)	(130,400)	(168,400)	(148,300)
Interest income	93,100)	15,500)	1,400)	4,900)	10,200)
Loss on debt refinancing and prepayment	(13,300)	(7,100)	(29,000)	—)	(6,200)
Gain (loss) on divestiture of businesses	(700)	67,000)	10,200)	—)	—)
Other income (expense), net	(7,200)	21,700)	18,000)	(8,600)	(11,800)
Other income (expense), net	(2,900)	2,200)	(129,800)	(172,100)	(156,100)
Income before income taxes	2,535,800)	2,362,200)	1,157,800)	176,600)	276,600)
Income tax (provision) benefit	(350,200)	(458,400)	(146,600)	59,800)	(62,700)
Net income	2,185,600)	1,903,800)	1,011,200)	236,400)	213,900)
Net income attributable to non-controlling interest	(1,900)	(1,600)	(1,600)	(2,200)	(2,200)
Net income attributable to ON Semiconductor Corporation	2,183,700)	1,902,200)	1,009,600)	234,200)	211,700)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Income statement item	Description	The company
Revenue	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	ON Semiconductor Corp. revenue increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	ON Semiconductor Corp. operating income increased from 2021 to 2022 and from 2022 to 2023.
Income before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	ON Semiconductor Corp. income before income taxes increased from 2021 to 2022 and from 2022 to 2023.
Net income attributable to ON Semiconductor Corporation	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	ON Semiconductor Corp. net income attributable to ON Semiconductor Corporation increased from 2021 to 2022 and from 2022 to 2023.

ON Semiconductor Corp. (NASDAQ:ON)

Income Statement